The words “economical” and “insurance” probably shouldn’t be used in the same sentence, especially when searching for the cheapest coverage for good drivers. Because it’s not cheap, let’s teach you some of the factors that have a considerable impact on auto insurance rates, and see if we can help you reduce the cost of the next policy you buy.
The vehicle to be insured is probably the largest consideration that determines if you can find cheaper insurance for good drivers. Vehicles with more horsepower, a lack of advanced safety features, or a track record of large liability claims will cost more to insure than more modest models.
The next table estimates coverage premiums for a selection of the most budget-friendly automobiles to buy coverage for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $1,270 |
| Ford Escape Limited 2WD | $1,275 |
| Toyota RAV4 Sport 2WD | $1,285 |
| Nissan Altima 2.5 4-Dr Sedan | $1,295 |
| GMC Sierra SL Extended Cab 2WD | $1,285 |
| Hyundai Elantra GLS Touring Station Wagon | $1,332 |
| Toyota Prius | $1,375 |
| Volkswagen Jetta SEL 4-Dr Sedan | $1,377 |
| Nissan Rogue SL 2WD | $1,379 |
| Ford Explorer XLT AWD | $1,396 |
| Honda Odyssey EX | $1,446 |
| Honda Accord EX-L 2-Dr Coupe | $1,472 |
| Toyota Camry Hybrid | $1,479 |
| Chevrolet Equinox LS 2WD | $1,474 |
| Toyota Tacoma 4WD | $1,495 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $1,526 |
| Ford F-150 STX Super Cab 4WD | $1,534 |
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Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, claim-free, and multi-policy. Rate information does not factor in vehicle location which can change rates noticeably.
Based on these rates, you can expect models like the Honda CR-V, Ford Escape, and Toyota RAV4 should be some of the cheaper vehicles to insure for safe drivers.
Figuring out which insurers offer the most affordable auto insurance rates for good drivers requires a bit more effort in order to find the lowest price quote.
Each auto insurance company has a proprietary method for establishing rates, so we will examine the most affordable auto insurance companies in Durham.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $636 |
| 2 | Progressive | $639 |
| 3 | Liberty Mutual | $707 |
| 4 | NC Farm Bureau | $716 |
| 5 | GEICO | $728 |
| 6 | Titan | $737 |
| 7 | Penn National | $747 |
| 8 | State Farm | $779 |
| 9 | Auto-Owners | $870 |
| 10 | Erie | $895 |
| 11 | Travelers | $900 |
| 12 | National General | $908 |
| 13 | Allied | $919 |
| 14 | Peerless | $972 |
| 15 | Nationwide | $1,011 |
| 16 | Unitrin | $1,032 |
| 17 | MetLife | $1,049 |
| 18 | Encompass | $1,063 |
| 19 | Allstate | $1,064 |
| 20 | Safeco | $1,076 |
| Compare Rates Now Go | ||
Utica National quotes some of the best car insurance rates in Durham at around $636 a year. This is $236 less than the average rate paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and GEICO also qualify as some of the more affordable Durham, NC insurance companies.
As shown in the table above, if you are insured with Liberty Mutual and switched to Utica National, you might see a yearly savings of upwards of $71. Policyholders with NC Farm Bureau could save as much as $80 a year, and GEICO policyholders might lower prices by $92 a year.
If you want to find out if you’re overpaying, click here or feel free to get quotes from the companies below.
Bear in mind that those rates are averages for all types of insureds and vehicles and do not factor in a vehicle location for good drivers. So the company that can offer the best rates for your situation may not even be in the top 20 companies in the list above. That illustrates why you need to compare prices as often as possible using your own specific driver and vehicle information.
Irresponsible driving raises your rates
The easiest way to earn low auto insurance premiums in Durham for safe drivers is to drive carefully and avoid accidents and traffic violations. The diagram below demonstrates how traffic citations and at-fault accidents can drive up premium costs for different categories of driver ages. The rate quotes are based on a married male driver, comp and collision included, $250 deductibles, and no discounts are applied to the premium.
The chart shows that the average cost of car insurance per year with a clean driving record and no accidents is $1,125. Get written up for two speeding tickets and the average cost jumps to $1,549, an increase of $424 each year. Now get two accidents along with the two speeding tickets and the 12-month cost of auto insurance for good drivers increases to an average of $3,113. That’s an increase of $1,987, or $166 per month, just for being a less-than-perfect driver!
Rate difference between full and liability-only coverage
Saving money when shopping for auto insurance is probably important to most people, and one of the best ways to save on the cost of insurance for good drivers is to buy only liability coverage. The diagram below illustrates the comparison of insurance costs with and without physical damage coverage. The prices are based on no violations or accidents, $250 deductibles, drivers are not married, and no discounts are applied.
On average, comprehensive and collision coverage on your policy costs $1,316 per year more than just buying liability insurance. That raises the question if full coverage is worth the money. There is no set guideline to stop buying full coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than around 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
For example, let’s say your vehicle’s replacement value is $12,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, you would only receive $11,000 after paying your policy deductible. If premiums are more than $1,100 annually for full coverage, then you might want to think about dropping full coverage.
There are some cases where dropping physical damage coverage is not recommended. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not remove full coverage.
How to get discounts on Durham insurance rates
Auto insurance companies that offer quotes for good drivers may also provide special discounts that can lower rates by 35% or more if you meet specific criteria. Large auto insurance companies and their offered discounts can be found below.
- American Family includes discounts for TimeAway discount, defensive driver, good driver, early bird, and mySafetyValet.
- Farm Bureau offers discounts including good student, youthful driver, multi-vehicle, renewal discount, and safe driver.
- State Farm discounts include multiple policy, good student, passive restraint, student away at school, good driver, and anti-theft.
- Travelers offers discounts for student away at school, hybrid/electric vehicle, early quote, new car, continuous insurance, and multi-policy.
- The Hartford has savings for air bag, driver training, anti-theft, good student, and bundle.
- GEICO has discounts for driver training, military active duty, good student, daytime running lights, federal employee, and defensive driver.
- Progressive offers premium reductions for good student, multi-policy, online signing, homeowner, multi-vehicle, and online quote discount.
The information below compares yearly insurance costs with and without discounts applied to the rates. The premiums are based on a female driver, no violations or claims, North Carolina state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with accident-free, claim-free, anti-theft, safe-driver, marriage, and vehicle safety discounts applied. When taking advantage of discounts, theaverage amount saved on auto insurance for good drivers is 28% or $278.
How to find budget-friendly car insurance for good drivers
It is possible to find better rates, and here are some of the better thrifty ideas that can help North Carolina drivers get more affordable auto insurance.
- Full coverage is expensive so only insure older vehicles for liability only
- Prevent price hikes by avoiding at-fault accidents
- Maintain a clean driving record
- Drive safe vehicles
- Home or renters coverage can save on auto insurance
- Frequent claims will increase rates
- Compare rate quotes often
That last piece of advice is notably valuable, as was stressed in this write-up. Auto insurance prices can change in a short period of time, so drivers shouldn’t hesitate to switch carriers if you find a cheaper price. Brand loyalty is not necessarily bad, but it’s not a good idea if that loyalty results in overpaying potentially thousands of dollars a year. In just a couple of minutes you could compare rates to find cheaper insurance for good drivers in Durham.
If you prefer to have some professional guidance when shopping for the best coverage for safe drivers, the agencies below can help you make a decision which insurance coverage you need.
To locate an agency in your neighborhood, click the link at the bottom.
- Insurance Pros: Paradis James
3200 Croasdaile Dr # 603 – Durham, NC 27705 – (919) 294-6613 - Andy Jones – State Farm Insurance Agent
4519 N Roxboro St – Durham, NC 27704 – (919) 477-0054 - Bull City Insurance
121 Sherron Rd #302 – Durham, NC 27703 – (919) 596-0671 - Mike Embree Insurance Agency
3813 University Dr – Durham, NC 27707 – (919) 489-7336